I don't trust anything BoA is suggesting. I know a financial advisor that used to work for them and my sister is a client admin for them now. They are the worst of the woke, government shill, leftist banks and that is saying something. If they are suggesting it as an institution, you can guarantee that the current government has something to do with it.

Personally, if Harris wins, I am pulling at least half of my portfolio of the markets, paying off anything I owe on my properties and buying more land if I can.

You should often do the opposite of what financial institutions suggest

American Hardwood said:

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Gator92 said:

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I believe its largely a hedge against fears of dollar collapse.

Especially if Trump wins.

CB's are hedging against widespread unrest when the leftists keep Trump from taking office...

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Huh? You think the reason is Trump and unrest and not the years and years of devaluing the dollar via the printing press and wildly out of control government spending with no end in sight? Please tell me you are joking about Trump.

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Sure gubmint spending causes inflation. But at the moment, the dollar sucks the least. Dollar has been strong over the last few years. Lots of "printing" by all Central Banks.

When Trump wins and the leftists do everything they can to keep him from taking office, the dollar will take a hit. Throw in we will not know who won the election till December cause they are still counting MIB's.

Its a recipe for dollar collapse...

We should all hold a little physical gold and silver. Everyone here, even staunch Keynesians, are intelligent enough to know it is an economic system that eats itself incrementally over time.

Central banks all over the world are buying physical gold and silver off the market; moreso now than at anytime in many people's lives today. Pair the buying frenzy of world central banks with poor fiscal and monetary stewardship of the US dollar, aggressive "almost tyrannical" US tactics to keep pegged currencies under our thumb, our treasury using the interest from Russia's US treasury holdings to fund Ukraine, etc...you start to understand why countries are trying to move away from the dollar. It's like everyone knows we are a sinking ship and we're holding them hostage just to drown with us.

Maybe a dumb question but for those with storage limitations, I assume investing in a mutual fund that is 100% all in on gold is just as good as buying the actual bars?

stick95 said:

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I don't trust anything BoA is suggesting. I know a financial advisor that used to work for them and my sister is a client admin for them now. They are the worst of the woke, government shill, leftist banks and that is saying something. If they are suggesting it as an institution, you can guarantee that the current government has something to do with it.

Personally, if Harris wins, I am pulling at least half of my portfolio of the markets, paying off anything I owe on my properties and buying more land if I can.

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They will tax the land right out from under you with an unrealized capital gains tax.

BoDog said:

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Maybe a dumb question but for those with storage limitations, I assume investing in a mutual fund that is 100% all in on gold is just as good as buying the actual bars?

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How are you going to use it to barter for food and medicine when the EMP wipes out all computer systems?

Would have been good advice a few years ago. Not so sure at this point in time.

American Hardwood said:

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Ghost Mech said:

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Quote:

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In a report published last week, market analysts at Bank of America (BoA) noted that gold is the best-performing asset so far this year. With gold's push to record highs above $2,500 an ounce, the precious metal is up roughly 20% in 2024.

In comparison, Bank of America noted that cryptocurrencies have risen 17.7%, stocks have rallied 15.4%, the overall commodity sector is up only 1.9%, government bonds have increased by 0.6%, and the U.S. dollar has gained 0.2% year-to-date.

Gold prices are even outperforming the tech sector, with the Nasdaq Composite Index up 17%.

Although investors have largely shunned the precious metals market, Bank of America noted that gold has seen the largest inflows in four weeks. The latest trade data from the Commodity Futures Trading Commission showed speculative positioning at a four-year high.

Gold's rally to record highs has been driven by record demand from central banks in the first half of this year.

The BoA analysts said that investors should be taking their lead from central bankers.



https://www.kitco.com/news/article/2024-08-26/do-what-central-banks-are-doing-buy-gold-bank-america

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All that money printing is going to catch up with us at some point. Gold is sending a signal, are you paying attention?

Fiat (fantasy digits on a screen) vs. physical reality. What do you have in your possession?

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If the STHF, I'd rather have physical gold than some abstract digital currency that is only accessible when the power is on. If we are talking about REALLY SHTF then gold ain't too useful either and you better have brass and lead and a whole lot of other tradeable goods.

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Screw that. I'd buy pinto beans, a well, and a coal mine.

If you want to protect your wealth, gold is your answer. But it will always be volatile. Despite that, it will always outperform the value of cash in a bank account over the long term unless we enter a period of strict Austerity and deleveraging.